{
  "url": "https://openlegislation.uk/finance-act-2009/schedule-16/paragraph-17",
  "json_url": "https://openlegislation.uk/finance-act-2009/schedule-16/paragraph-17.json",
  "legislation": "ukpga/2009/10",
  "legislation_title": "Finance Act 2009",
  "legislation_url": "https://openlegislation.uk/finance-act-2009",
  "path": "schedule/16/paragraph/17",
  "kind": "paragraph",
  "number": "17",
  "heading": null,
  "text": "(1) In its application in relation to a relevant accounting period of a qualifying holding company, Part 2 of Schedule 25 to ICTA has effect subject to the modifications in this paragraph.\n(2) Sub-paragraph (4) or (4A) of paragraph 6 applies to a company only if—\n(a) the condition specified in that sub-paragraph is met, and\n(b) conditions A and B are met.\n(3) Condition A is that at all material times the company was a member of a group with the same ultimate corporate parent.\n(4) For this purpose the following times are “material”—\n(a) the beginning of 9 December 2008, and\n(b) all times during the accounting period in question.\n(5) Condition B is that amount X does not exceed amount Y.\n(6) Amount X is the amount of the company's gross income in the accounting period in question that is non-qualifying gross income.\n(7) Amount Y is (subject to sub-paragraph (8))—\n(a) where there are three reference periods in relation to the company, the greatest of the amounts of the company's non-qualifying gross income in each of those periods,\n(b) where there are two reference periods in relation to the company, the greater of the amounts of the company's non-qualifying gross income in each of those periods,\n(c) where there is one reference period in relation to the company, the amount of the company's non-qualifying gross income in that period, or\n(d) where there is no reference period in relation to the company, the amount of the company's non-qualifying gross income in the period of 12 months ending with 9 December 2008.\n(8) Where the number of days in the period by reference to which amount X is determined is not the same as the number of days in the period by reference to which amount Y is determined, amount Y is to be multiplied by—\nDXDYwhere—\nDX is the number of days in the period by reference to which amount X is determined, and\nDY is the number of days in the period by reference to which amount Y is determined.\n(9) In this paragraph—\n“non-qualifying gross income” means gross income that does not satisfy the test in paragraph 6(3), (4) or (4A) of Schedule 25 to ICTA;\n“a reference period”, in relation to a company, means an accounting period of the company that—\n(a)is one of the last three accounting periods of the company to end before 9 December 2008, and\n(b)is an accounting period in relation to which the company is an exempt holding company.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/10/schedule/16/paragraph/17",
    "retrieved_at": "2026-10-29T09:11:08.872832+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}